Monday, 27 June 2016

G.O.RT.No. 1638 , Dated: 27-06-2016. General Provident Fund (Andhra Pradesh)-Rate of interest for the financial year 2016-17 commencing on 01.04.2016 as 8.1%


    GOVERNMENT OF ANDHRA PRADESH                                 ABSTRACT 

Provident  Fund-General Provident  Fund  (Andhra Pradesh)-Rate of  interest  for the financial  year 2016-17   commencing  on  01.04.2016  as  8.1%  (Eight  point  one per  cent)  per  annum  with  effect  from  01.04.2016 to  30.06.2016-Issued.  

FINANCE  (HR-5-Pension,GPF)DEPARTMENT    G.O.RT.No.  1638           Dated:  27-06-2016      
 Read the following :-
 1.  G.O.Rt.No.2142,  Finance(Pen.II)Department  dated 30.04.2013
2.  GOI,  Resolution  No.  F.No.5(1)-B(PD)/2016,  Ministry  of  Finance, Department  of  Economic  Affairs(Budget  Division)  Dt:  02.06.2016
3.  Lr.No.FM/Gl.II/9-3/2016-17/330 of  O/o  the  Accountnat  General  (A&E), Andhra  Pradesh,  Hyderabad,  Dt:  08.06.2016.

                                  &&&

ORDER :
According to  Rule  13(1)  of  General  Provident  Fund  (Andhra  Pradesh)  Rules 1935,  Government  shall pay to  the credit of  the  account  of a  subscriber  interest at  such  rate as  may  be  determined  for each  year according  to  the  method  of calculation  prescribed  from  time  to  time  by the  Government  of  India  for  payment of  interest  on  subscription  to  the General  provident  Fund  in  respect of Central Services.

 2.  In  the  G.O.1st  read  above,  the  State Government  have  adopted  the interest  rate  of  8.7%  per  annum  ordered by the  Government  of  India with  effect from 01.04.2013 until further orders.

3. In  the  reference  2nd  read  above,  the  Government  of  India  through  its resolution  No.  F.No.5(1)- B(PD)/2016,  Dt:  08.04.2013  revised  the  rates  of interest  for  the subscribers  of General  Provident  Fund(Central  Services)  for  the year 2016-17 as follows: 8.1% with effect from 01.04.2016 to 30.06.2016.

 4. The Deputy  Accountant  General(Funds), in  his  letter  3rd  read  above  has requested  to  issue  necessary Government  Orders  duly revising  the  rates  of interest  on  GPF  and  other  similar   funds  etc.,  maintained  in  the  State  for  the year 2016-17.

5. Government  after careful examination  of  the  matter,  hereby  adopt  the rate  of  interest  as  8.1% per annum  w.e.f  01.04.2016 to  30.06.2016  on  the following Provident Funds  and other  similar  funds maintained by  the Government of  Andhra  Pradesh on  par  with  rates  of  Government  of  India.

1.  The  General Provident Fund(Andhra  Pradesh)  Rules 1935

2.  The  Electricity  Department  Provident Fund  Rules.

3.  Emergency Cut  and Compulsory Saving  Rules,  1949.

4.  Government  Distilleries  Employees Provident  Fund

5.  Andhra  Pradesh  Government  Life  Insurance Fund

6. Andhra Pradesh Employees Welfare Fund Rules. 6. The G.O.  is  available on  Internet  and  can  be  accessed  at  the address http://www.goir.ap.gov.in .

(BY ORDER AND IN THE NAME OF GOVERNOR OF ANDHRA PRADESH)

               HEMA MUNIVENKATAPPA
     SPECIAL SECRETARY TO GOVERNMENT



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